Product & Service Launches – 1/16/25
BlackRock’s LifePath Paycheck reaches a milestone; HSA Store launches a mobile app; Green Leaf Launches 401(k) Solution; and more.
News
Bechtel Managed Account QDIA Lawsuit Dismissed
The complaint accused the engineering and construction firm of defaulting participants into a high-fee option that provided no benefits compared...
Prudential, Dimensional Fund Advisors, FIDx Announce Product Partnership
The collaboration will allow for protected lifetime income strategies to be added to managed accounts via the FIDx Insurance Overlay...
OneDigital Acquires Nonprofit HR Solutions, Fueling Expansion
The acquisition is OneDigital’s first in the nonprofit sector.
Employers Expand Mental Health Support to Combat ‘Burnout’
NFP’s annual benefits report also found, however, a trend of some employers too often putting that mental health support within...
IRS Offers Assistance to Those Affected by California Wildfires
The relief measures include extended deadlines for 2024 retirement contributions and penalty-free hardship withdrawals for those affected.
Advisers Giving Back: Kristi Baker
The plan adviser discusses her work to help create a university-like program for adults with intellectual and development needs.
SEC Fines 12 Firms $63M for Failing to Maintain Proper Electronic Records
The SEC has charged nine investment advisers and three broker/dealers for violations of federal recordkeeping laws.
John Hancock Retirement Announces Partnership With Vestwell
Vestwell will power FutureStep by John Hancock, an open-architecture retirement plan offering.
TDFs With Annuity Options Set to Proliferate
2025 will likely see new entrants offering hybrid annuity TDFs, while existing players will announce more recordkeeper partnerships and asset...
Q&A: Seeking a More Perfect TDF
Philip Chao discusses his near-10-year path to creating a personalized target-date fund investment option for plan sponsors.
Transamerica Introduces New Logo
The rebranding campaign is meant to highlight Transamerica’s commitment to middle-income Americans.
Corporate Pension Funding Status Rose in December, Ending Strong in 2024
Pension plans saw improved funding status at the end of 2024, with rising discount rates triggering a decrease in pension...
Advisory M&A News – 1/13/24
Mariner acquires Cardinal Investment Advisors; Northwestern Mutual and Sixth Street announce partnership; Mercer Advisors adds Edward Vance Investment Management; and...
IRS, Treasury Release Proposed Regulations on SECURE 2.0 Provisions
The agencies issued guidance on how plan administrators can comply with the Roth catch-up rule that begins in 2026 and,...
401(k) Excessive Fee Litigation Spiked to ‘Near Record Pace’ in ’24
Encore Fiduciary reported a 35% increase in ERISA excessive fee litigation, in part driven by a surge in plan forfeiture...
Court Rules American Airlines Breached Fiduciary Duty in ESG Case
A federal district court in Texas found that American Airlines prioritized ESG investment goals ahead of employees’ financial interests, violating...
Retirement Industry People Moves – 1/9/25
Cervantes joins Prime Capital Financial; Corebridge Financial welcomes Klane as general counsel; Gallagher adds Helgens as retirement plan consultant.
Jay Kaduson Joins Voya Financial as CEO of Workplace Solutions
Kaduson will report to Heather Lavallee, CEO of Voya Financial.
Retirement Plan Investors Remain Cautious in December Amid Market Volatility
Trading activity stayed subdued last month, with only two above-normal trading days recorded.